Kia: US-Iran war adds KRW 600bn to Q3 raw material costs

Kia's disclosure shows geopolitical conflict in the Middle East transmitting into corporate cost lines through raw materials, not just energy prices, and the expected spillover into the fourth quarter suggests the pressure is not a one-off. The notable tension is that the company is holding its 2026 sales target and citing record share even as input costs rise, which puts the focus on whether pricing and mix can absorb the hit. Whether the cost impact stays contained to raw materials, or widens into margins and targets, is the open question.